Research On The Relationship Between Carbon Emission And Industrial Financial Performance In Hebei Province

Since the Industrial Revolution,human activities have led to a continuous increase in greenhouse gas emissions such as carbon dioxide,leading to a series of environmental issues such as climate change worldwide.Strengthening global climate governance,effectively controlling greenhouse gas emissions such as carbon dioxide,and improving the human living environment have become important issues that countries around the world cannot avoid today.The proposal of the goal of carbon peaking and carbon neutrality has become a substantial constraint on energy conservation and emission reduction in China.In China’s total energy consumption,industrial energy consumption accounts for the largest proportion,and the industrial sector plays a decisive role in achieving carbon reduction goals.Therefore,this article selects the industrial industry in Hebei Province as the research object to explore the specific impact relationship between carbon emissions and financial performance.Based on this,further research is conducted on the positive and negative driving factors that affect changes in carbon emissions.Firstly,read and sort out literature related to carbon and financial performance,refer to domestic and foreign research results,select appropriate carbon emission decoupling models,regression models,factor decomposition models,and define important concepts such as the industrial industry and carbon emissions in Hebei Province.Then,the article analyzes the economic growth,total energy consumption,and structure of the industrial industry in Hebei Province during the 13 th Five Year Plan period,and constructs an industrial carbon emissions decoupling model based on Tapio research ideas.The article calculates the degree of industrial carbon emissions decoupling in Hebei Province and 11 prefecture level cities under its jurisdiction,and comprehensively evaluates the development status of the industrial industry in Hebei Province.On this basis,the return on total assets is used to measure financial performance,the carbon emissions per million yuan of operating income is used as a substitute variable for carbon emissions,and 39 industrial sectors in Hebei Province from 2013 to 2020 are selected as research samples,with a total of 312 effective observations.The panel data two-way fixed effect model is used to explore the impact relationship between carbon emissions and financial performance of industrial sectors in Hebei Province,further grouping according to energy consumption levels,Analyze the differences in their impact on carbon emissions and financial performance.According to the empirical results,taking into account the availability of data and the important position of Tangshan’s industrial industry in Hebei Province,Tangshan’s industrial industry was selected as the case object.Based on the panel data of six traditional advantageous industries(including 18 industries specifically)and four major energy consumption in Tangshan during the "13th Five Year Plan" period,an LMDI decomposition model was constructed,and the effect size of factors affecting the change of industrial carbon emissions was calculated using Python,Analyze the underlying reasons for changes in carbon emissions in the industrial industry.The research concludes that,firstly,according to the Tapio decoupling model calculation results,as of the end of 2020,the carbon emissions of the industrial industry in Hebei Province have not yet achieved the ideal state of strong decoupling,indicating that the growth of the industrial economy in Hebei Province still depends to a certain extent on excessive energy consumption.Secondly,based on the panel data regression model,it is concluded that there is a significant negative correlation between carbon emissions and financial performance of industrial industries in Hebei Province,that is,the reduction of carbon emissions is conducive to the improvement of financial performance.Thirdly,The negative impact of carbon emissions on financial performance is not significant in high energy consuming industries,while the negative impact of carbon emissions on financial performance is more significant in other industries.Fourthly,according to the decomposition results of LMDI factors,it is concluded that the energy intensity effect plays a negative role in driving the growth of industrial carbon dioxide emissions,and the cumulative contribution value during the study period is-27.9296 million tons;The industry structure effect is the main driving factor for the increase in carbon dioxide emissions,with a cumulative contribution value of 57.1867 million tons.Finally,based on the research and empirical analysis of the current situation of the industrial industry in Hebei Province,the article proposes suggestions from the government,market,and industry.By exerting the government’s supervision and guidance role,improving the market’s positive feedback ability for carbon reduction activities,and enhancing the low-carbon environmental awareness of the industrial industry,the article accelerates the promotion of green and low-carbon transformation in the industrial industry in Hebei Province,effectively incentivizing various industries to actively Take proactive measures to carry out carbon reduction activities and address the bottleneck issues encountered by the industrial industry in the process of green transformation.The article hopes to provide reference for the further introduction of policies and regulations related to green transformation in the industrial industry of Hebei Province.